Businessman gets two years RI, ₹7.54 lakh fine for income-tax evasion - The HinduPublished - September 30, 2026 10:42 pm IST - COIMBATOREThe Chief Judicial Magistrate Court in Coimbatore, which is the special court for Income Tax (I-T) related cases, on Tuesday sentenced a man from Namakkal district to two years of rigorous imprisonment (RI) for income tax evasion.Chief Judicial Magistrate K. Sivakumar awarded the sentence and a fine of ₹7.54 lakh to R. Natesan of Tiruchengode, who is into the businesses of operating excavators and borewell drilling.As per the prosecution, rent receipts amounting to ₹25,89,914 and bank deposits amounting to ₹71,40,741 were shown under Mr. Natesan’s PAN for the financial year 2012–13 corresponding to the assessment year 2013–14 as per records available with the I-T Department.However, he failed to file the I-T return for the assessment year 2013-14. Instead, he filed an I-T return for the assessment year 2013–14 under another PAN, in which he failed to disclose the income from rent receipts of ₹25,89,914.The court awarded the punishment to the businessman for offence under Section 276CC of the Income Tax Act. Special Public Prosecutor K. Venkatesh appeared for the I-T Department in the case.Published - September 30, 2026 10:42 pm ISTSign in to unlock member-only benefits!Access 10 free stories every monthSave stories to read laterAccess to comment on every storySign-up/manage your newsletter subscriptions with a single clickGet notified by email for early access to discounts & offers on our products${ ind + 1 } ${ device }Last active - ${ la }